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Including owner-occupied housing costs in the measurement of inflation
[La prise en compte du coût du logement des propriétaires dans la mesure de l’inflation]

Author

Listed:
  • Julien André
  • Yannick Kalantzis
  • Antoine Lalliard
  • Paul Vertier

Abstract

The harmonised measure of inflation currently published in the euro area does not take into account costs related to owner-occupied housing. There are several ways of capturing these costs, including the “imputed rent” and “net acquisition” approaches. Incorporating these costs into the measure of inflation produces different results depending on the method used, and the size and sign of the impact vary over time. Le coût des logements occupés par leurs propriétaires n’est pas pris en compte dans la mesure harmonisée de l’inflation publiée en zone euro. Plusieurs méthodes existent pour l’inclure, parmi lesquelles les loyers imputés ou les prix d’acquisition. Intégrer ce coût dans la mesure de l’inflation produit des effets différents selon la méthode retenue, avec des ampleurs et des signes variables au cours du temps.

Suggested Citation

Handle: RePEc:bfr:econot:253
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File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/including-owner-occupied-housing-costs-measurement-inflation
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File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/la-prise-en-compte-du-cout-du-logement-des-proprietaires-dans-la-mesure-de-linflation
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